Author: blogger
If you have the choice of a Company Car or Company Car Allowance, you should check out how much Company Car Tax (or Benefit In Kind Tax as it is also known) that you would pay if you accept a company vehicle, and then decide whether to go for the Company Car or cash. You could be better off taking the car allowance and leasing a car yourself, even though the allowance is taxable.
The Cash for Car scheme has become increasingly popular with both employers and employees in recent years. Employers save time and money in not having to source, maintain and administer a fleet, although they must always be aware of their Duty of Care and Health & Safety responsibilities. And as an employee, you have more freedom to choose the car you drive, and you could even be better off if you dont spend all of the company car allowance you receive. However, some employers do stipulate the type and age of vehicle that is acceptable, according to the job you are doing.
If you choose to accept a Company Car Allowance, its worth considering Car Leasing vs Buying. Car Leasing (also known as Contract Hire) is simply the hiring of a vehicle for an agreed period of time for a fixed monthly rental. Unlike Short Term Rental or daily rental, a car lease is usually for 2-5 years, after which you can simply hand the car back with no further commitment or, in some case, you may be able to purchase the vehicle if you wish. Car Leasing is a convenient, cost-effective and hassle-free way of financing a new vehicle, and there are many benefits of leasing a car. It enables easy budgeting of your motoring costs, and the fixed monthly payments can even include servicing and maintenance. Also, theres no need to worry about depreciation or disposing of the vehicle at the end of the contract.
Dont forget that if you choose the company car instead of the company car allowance, all your motoring costs (except private fuel) will be taken care of by your employer including insurance, road tax, servicing and repairs. If you choose the company car allowance, you will have to pay for these things yourself.
If you choose a company car allowance and lease a vehicle which you use in the course of your job, youre entitled to claim from your employer a mileage allowance for each business mile travelled. H.M. Revenue & Customs approves certain mileage rates that employees can claim for business travel, and the current rate is 40p per mile. Check the HMRC website for the latest information.
Part way between the company car and a company car allowance is something called Employee Car Ownership. This is where your employer gives you a car allowance, but the company organizes the finance deal and takes care of insurance and running costs. This may also be worth considering if your employer offers such a scheme.
If you’ve ever wondered how to finance car, there are really only a few simple steps you have to follow. Car financing is very common since the average person doesn’t have several thousand dollars lying around to spend on buying a car outright. The car buying process is very simple once you know the basic format. When you follow these steps, you’ll be able the get the financing you need for the car that you want to buy.
1.Become familiar with your credit score
This is one of the most important steps in how to finance a car. Before you even think about borrowing money you need to know your credit score. Your credit score will let your lenders know your history with borrowing money. Frequently, there are mistakes on a credit report that will negatively influence your ability to get financing. Check your credit score and your credit report and correct any errors before you try to borrow.
2.Save a down payment
Your ability to borrow the money to pay your car is increased greatly if you place a down payment on your car. If you can manage a 20% down payment, your chances of borrowing will be very high. Even a 15% or 10% down payment can help lenders see that you are willing to put forth money to invest in yourself. Pick out your ideal car and start saving for a down payment. You’ll be rewarded with a better rate and lower payments on your auto loan.
3.Get pre-approved
Many people try to go to the dealership first and then get financing, but this is doing it all backwards. It’s much easier to shop for a car when you know exactly what kind of car you can afford. It’s very disappointing to have your heart set on a certain car, only to be told by your bank that you can’t afford it. In order to avoid this problem, why not secure the financing first? Most banks and lending institutions will arrange for you to get pre-approved for a certain amount. With this pre-approval, you’ll be free to shop for the type of car that you can afford or compare rates from other institutions.
4.Shop around for your car loan
Once you get pre-approved, you can use this rate to accurately evaluate other rates from sources online or other financial services in your area. You can compare rates by using a service like www.bankrate.com or visit other banks in your area. Shopping around can give you a better idea of the best deal for you. You may be able to find a source that has a lower APR or lower monthly payments than you were initially offered.
5.Purchase your car
After all this preparation, you can finally start shopping for your car. When you purchase your car, you’ll know that you’ve done all that you can to find the best rate. The next time you need a car you’ll know exactly
Seasoned auto enthusiasts and even weekend-warriors can make great progress on their classic car restoration projects – but only if they have the right tools. Most classic cars have old parts, rusty patches, and jagged edges. It takes a well-stocked tool kit to work with these problems and make your car as good as new. If you’re thinking about taking on a new project, here are a few of the most important pieces of equipment and tools that you’ll need.
Impact Wrench
Most old cars have lug nuts and bolts that are far too difficult to unscrew with muscle power alone. Even if you can manage to get them off manually, they’re probably found all over your car. To save yourself time, energy, and a lot of frustration, you’ll need to keep a quality impact wrench in your garage. It can take even the tightest bolt off in seconds.
Angle Grinder
If you plan on doing your own bodywork, you’re going to need a grinder. Angle grinders allow you to take off large patches of rust in no time, and they’re indispensable for cutting sheet metal. Once all your panels in place, you’ll also want to grind away the jagged areas to make your car stylish and safe.
Hydraulic Jack
To get to your transmission or fuel injectors, you’ll want to be able to lift your car off the ground. Most shops have two or four-post hydraulic lifts, but those just aren’t practical for a home garage. Fortunately, you can still get a little bit of lift from a good hydraulic jack.
Air Compressor
An air compressor may be the most important tool in your garage. You’ll need it to power a variety of devices, including your impact wrench and angle grinder. You will also have to use a compressor with your paint gun to achieve a smooth, even coat.
Fiberglass Repair Kit
Steel bodies look great, but fiberglass can be far easier to repair and maintain. In fact, you can even use fiberglass to repair small dents in steel. Whatever type of chassis you’ve got on your car, you should keep a fiberglass repair kit in stock. It will also come in handy for repairing boats, swimming pools, and bathtubs.
Engine Crane
If you’re serious about classic car restoration, you should probably look into getting your own engine crane. Changing your timing belt, repairing your transmission, and plenty of other jobs may require that you take your engine out of your car.
Basic Hand Tools
Last but not least, you will need a great set of basic equipment. Every enthusiast loves to play with power tools, but you won’t get far without some good wrenches, screwdrivers, and cutters. Make sure you’ve also got small pliers and wires for precise electrical work.
Help from the Pros
Even if you’ve got a fully-stocked kit and the knowledge to use it, you may need some professional help with your car. Whether you’ve got a tough project – or you just don’t have the right tools for the job – call a leading professional now to get assistance with your classic car restoration project.
Electric cars have become very popular recently due to new information on how to convert to a electric vehicle. Most people seem to believe that electric vehicles are not practical because they can not travel far enough, but this is simply not true.
Granted you are not going to take a cross country trip in one, unless you also happen to own the worlds largest extension cord. Until battery technology improves, that is even beyond the range of a brand new $100,000+ tesla roadster. So that proves your point right? Lets take a
closer look.
How much do you really travel every day? Government studies show that 80% of Americans drive less than 50 miles a day, 50% drive less than 25 miles a day, with a range of 100 miles or more an electric vehicle will easily get you through the day.
Add up the miles you drive, 10-30 mile round trip to work, businesses you frequent are usually within 5 miles of your home, so you can see when you build your own electric vehicle it is really practical for everyday use.
Here are some more advantages of electric cars:
Quiet
Reliable
Environmentally friendly
Cheap to operate and maintain
Reasonably fast
This last fact may come as a surprise to many people, but there are electric cars available right now that will do 0 to 60 mph in under 4 seconds, while a conversion car is not targeted to that kind of speed, the acceleration you get is more than adequate, and it will do highway speeds which makes it good enough for most peoples needs.
Another thing to consider is that you can build your own electric vehicle for under $500, which makes it within the reach of just about everyone. A car is very important for most of us, but the growing concerns over its impact on the environment, shrinking fuel resources, and the rising cost of gasoline forces us to look at other options.
If you are ready for better and cheaper solutions for your transportation needs while saving gasoline, and without adding to global warming, an electric vehicle is the way to go.
So youve sunk a whole load of money into an old car with the intention of lovingly restoring it to its former glory. But its only now that youve started looking for car parts that youre beginning to wonder what on earth have you let yourself in for. Whether youre in it for the money or for the sheer fun of it, any car you restore is only going to be the sum of the car parts you put into it. So before you start building from scratch, here are a few points to consider.
Cars arent that complicated to understand, right? Well, theres a world of difference between replacing the odd car part here and there and refitting the insides of an empty carcass like a jigsaw. Before you commit financially to any project, be sure to ascertain honestly what your ability is, and also how much time and effort youre prepared to put into the project. A fancy paint job and new upholstery can be as much fun as installing the most basic of engine parts, if that is where your technical comfort level is. Consider what youre prepared to put in, before you start ripping those old car parts out.
Once youve decided upon the type of project you want to work with, be sure to wait for the right car with the right parts. Of course you can learn as you go along, and that might even be part of the fun, but dont invest in a car minus parts you havent the interest in learning to find and fit. You might love that make and model at the time of purchase, but a few weeks of sitting in your front yard without the final missing part will be enough to sour your relationship forever.
If you are a novice, be sure to take an expert car parts man along with you when you view potential cars and parts. What might look about right to you might actually be along the wrong lines completely, and you could find yourself shelling out a fortune for a part that is completely unsuitable. Also bear in mind always how much money you are willing to spend on car parts, and what you plan ultimately to do with your restored car. An older part might be fine in a vehicle you hope to use for show purposes only, but a fully operable car will need car parts of the same standard.
Caution is the watchword when choosing car parts to put into your restoration job. Know what you want and stick to that, and if in doubt then save your money. Whatever your reasons for restoring a car, the parts you put inside need to be just right, so do the best job you can by waiting for the best parts.